# Phase 5: Implied Z₁ Effect by Country Archetype

Estimated from a single PanelGLS model with all moderator interactions.

| Archetype | CA/GDP | Savings/GDP | Investment/GDP | NFA/GDP |
|---|---|---|---|---|
| Low-income, closed | -47.9 | 154.0 | 74.0 | 0.0 |
| Middle-income, closed | 27.9 | 95.9 | 1.5 | 1.0 |
| Middle-income, open | 30.4 | 71.9 | -8.3 | -0.4 |
| High-income, non-OECD | 97.9 | 100.0 | 21.0 | -3.5 |
| OECD, non-safe | 22.4 | 2.7 | 12.8 | 5.5 |
| OECD, EMU | -111.9 | -55.7 | 17.4 | 3.9 |
| Safe issuer | 41.4 | 40.1 | 24.5 | -5.2 |

*Values show implied Z₁ coefficient (effect of one-unit increase in demographic PC₁ on DV) for each archetype.*
*Positive CA = aging → surplus; Positive Savings = aging → more savings.*
*Estimated via PanelGLS with AR(1) correction.*
